The electronic auction shall be based ( a ) either solely on prices when the contract is awarded to the lowest price

the type of auction ( fixed rate or variable rate tender )

the currencies involved and the currency , the amount of which is kept fixed ( in the case of foreign exchange swaps )

the maturity of the operation the type of auction ( fixed rate or variable rate tender )

the type of auction ( fixed rate or variable rate tender )

the type of auction ( fixed rate or variable rate tender )

the type of auction ( fixed rate or variable rate tender )

the type of auction ( fixed rate or variable rate tender )

Haircut see valuation haircut . In house credit assessment system ( ICAS ) a credit quality assessment source provided for in the Eurosystem credit assessment framework ( ECAF ) that currently comprises the four credit assessment systems operated by the Deutsche Bundesbank , the Banco de España , the Banque de France and the Oesterreichische Nationalbank .

Longer term refinancing operations are executed through monthly standard tenders and have a maturity of three months .

Foreign exchange swap simultaneous spot and forward transactions of one currency against another .

the type of operation ( provision or absorption of liquidity and the type of monetary policy instrument to be used ) the maturity of the operation

CAEO in her uniform.

Haircut see valuation haircut .

or ( ii ) a lending operation against a pledge or in a repurchase agreement .

These systems are subject to a formal recognition and validation process by the national supervisors .

Longer term refinancing operation a regular open market operation executed by the Eurosystem in the form of a reverse transaction .

These systems are subject to a formal recog nition and validation process by the national supervisors .

Main refinancing operation a regular open market operation executed by the Eurosystem in the form of a reverse transaction .

Main refinancing operations are conducted through weekly standard tenders and normally have a maturity of one week .

Main refinancing operation a regular open market operation executed by the Eurosystem in the form of a reverse transaction . Main refinancing operations are conducted through weekly standard tenders and normally have a maturity of one week .

Tender procedures

for a liquidity providing tender for a liquidity absorbing tender r m 1

for a liquidity providing foreign exchange swap for a liquidity absorbing foreign exchange swap

He looks cute in his uniform.

The Marine Corps Dress uniform is the most elaborate, worn for formal or ceremonial occasions.

EN Type of auction

Its main components were the ECU , the exchange rate and intervention mechanism ( ERM ) , very short term financing mechanisms and short and medium term credit mechanisms .

They were all dressed in uniforms.

In a variable rate tender , by contrast , banks have no incentive to overbid , since they would have to pay a higher price if they wanted to obtain more liquidity .

On 11 April 2008, a 1993 nude photograph of Bruni taken during her modelling career sold at auction for US 91,000 ( 65,093) more than 60 times the expected price.

The public tender result message normally contains the following information the reference number of the tender operation , the date of the tender operation , the type of operation , the maturity of the operation , the total amount bid by Eurosystem counterparties , the number of bidders , the currencies involved ( in the case of foreign exchange swaps ) , the total amount allotted , the percentage of allotment ( in the case of fixed rate tenders ) ,

Tender allotment procedures

Tender procedures of the Eurosystem

The public tender announcement message normally contains the following information the reference number of the tender operation

It may be extended by central banks to even out mismatches in payment settlements and can take the form of ( i ) a collateralised overdraft or ( ii ) a lending operation against a pledge or in a repurchase agreement .

Article 13 Uniform interpretation

Where's your uniform?

Tom took off his uniform.

Particle i does not exert a force on itself.

International Securities Identification Number ( ISIN ) an international identification code assigned to securities issued in financial markets .

Main refinancing operation a regular open market operation executed by the Eurosystem in the form of a reverse transaction .

European Monetary System ( EMS ) an exchange rate regime created in 1979 by a Resolution of the European Council of 5 December 1978 .

The public tender result message normally contains the following information reference number of the tender operation

Inverse floating rate instrument a structured note where the rate of interest paid to the holder of the note varies inversely with changes in a certain reference interest rate .